OVERVIEW OF THE WORLD ECONOMY – Statistics – 29 November 2023

This text brings data and analysis from the global economy, the United States, Europe – divided into the Euro Area and the United Kingdom -, China and three Latin American countries: Argentina, Chile and Mexico.
In general, there was, in 2023, greater growth than expected, the labor markets continued to show heating, with low unemployment rates, and inflation fell, but remains high, amid the increase in basic interest rates by banks centers, which now indicate that they should stay high for longer.

Fiscal deficits and public debts are at levels above those before the pandemic, and debt service costs as a percentage of GDP are high, as for developing countries, or expected to rise, as in advanced economies and middle income.

(WORLDWIDE INFLATION)

NOTE: CALCULATED BY BLOOMBERG BASED ON INFLATION ACCUMULATED IN TWELVE MONTHS FOR DIFFERENT COUNTRIES, COVERING 98% OF THE GLOBAL ECONOMY.

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Growth next year should be similar to this year, in global terms, and could benefit from the prospect of the beginning of the loosening of monetary policies. However, there are risks, such as the aforementioned fiscal fragility, the delay in recovery in the industry and geopolitical risks. Each region or country, naturally, has its peculiarities, explored in the subsections dedicated to them.